The Trust Layer for Market Analysts

Ethereum is currently pushing into resistance after forming a local low in early June. The analysis suggests this is part of an unfolding bear market, similar to the structure observed in 2022. The market may be setting up for a five-wave decline within a larger 'C' wave. A key support area is identified between $664 and $1026. The $1000 level is considered an ideal target given that this pullback could represent a Wave 4. The yellow trendline acting as resistance is currently around $2100, indicating further bearish pressure as long as it holds. There are no signs of a low being in place yet.